Spanish Conglomerate Buys $58M Miami Beach Hotel
- Feb 12, 2018
CBRE Hotels arranged the $58 million sale of The Hall South Beach, a 163-room hotel in Miami Beach, Fla. Rockwood Capital sold the asset to a Spanish conglomerate associated with Grup Peralada, according to public records. Owned by the Suqué-Mateu family, Grup Peralada is active in sectors including leisure, culture, viticulture and other industries.
Located at 1500 Collins Ave., the property sits on a 14.9-acre site is South Beach’s Art Deco district. Constructed in 1940, the building was designed by architect L. Murray Dixon and features a courtyard with an indoor and outdoor restaurant, beer garden, library, bar and swimming pool.
Revamped and rebranded
Formerly known as Haddon Hall, the property last changed hands in 2013, when Rockwood purchased it for $35 million in a portfolio deal with the adjacent Campton Apartments, according to HFF. Rockwood recently completed an expansive renovation and rebranding program at the property. Lincoln Road, Ocean Drive, and Española Way are all within a two-block radius of The Hall South Beach.
“The Hall is a unique property in a very good location, and this transaction again proves that Miami continues to attract investors from around the world,” said Paul Weimer, senior vice president with CBRE, in prepared remarks.
The team of Senior Vice Presidents Christian Charre and Weimer brokered the deal on behalf of the seller. In October 2017, CBRE Hotels completed the sale of the majority interest in Trump Ocean Club Hotel, a 369-unit luxury resort in Panama City’s Punta Pacifica neighborhood.
Image courtesy of CBRE